NU Online News Service, May 6, 6:13 p.m. – Principal Financial Group Inc., Des Moines, Iowa, is setting up a new group health program, the Innovative Group Benefit Solutions program,

The program offers employers access to a choice of five preferred provider organization-based benefit designs and six prescription drug options.

The plan designs are aimed at employers worried about skyrocketing premiums. Most offer lower-than-average premium increases in exchange for increases in co-payments, deductibles and penalties for using out-of-network providers.

The program will also include access to Web-based administrative tools and several flexible spending account options.